Budget Highlights-2008

• Personal income tax exemption hiked to Rs 1.5 lakh
  Senior citizens threshold tax limit increased from Rs 1,95,000 to Rs 2,25,000
  Tax exemption for women increased to Rs 1.8 lakh

PIC:Finance Minister P Chidambaram presents the Union Budget 2008-09 in the Lok Sabha.

New tax slabs:

10 per cent for 1,50,000 to 3,00,000, 20 per cent for 3,00,000 to 5,00,000 and 30 per cent above 5,00,000

Excise on packaged softwares to be lower from 8% to 12%
No excise duty on refrigerating equipments
Small cars to become cheaper
Reduced excise duty on two, three wheelers
Rs 50 cr for tiger conservation
Sixth Pay Commission report by March 2008
Defence allocation up by 10% from Rs 96,000 cr to Rs 1,56,000 cr
Rs 624 cr for Commonwealth Games
PAN sole identification in securities market
Debt waiver scheme and relief to small and marginal farmers
Duty reduced on life saving drugs
Set-top boxes to become cheaper
3 IITs to be set up in Bihar, AP, Rajasthan
Special attention, more funds for North East
54 gender budgeting cells set up
More allocation for polio and AIDS